Fortnum & Mason back in profit as shoppers flock to store

Fortnum & Mason swung into profit last year as shoppers flocked back to the department store.

The King’s grocer booked a £6million profit in the 12 months to last July after back-to-back years of losses during Covid.

And sales hit £187million, up from £132million in the same period a year earlier.

Boss Tom Athron said: ‘The world opened up again and our shops and restaurants were able to open up again, and we saw our online business hold its own.’

The increase continued over Christmas, said Athron, adding that despite ‘growing uncertainty’, the firm expects a boost this year from the King’s coronation thanks to the retailer’s close ties with the Royal Family.

While sales were up from 2019, profits were below the £9.3million it hit pre-Covid.

Athron said there were fewer visitors to the flagship Piccadilly store and it faced higher supplier costs and wage bills.